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1 Definition of Terms .................................................................................................................. 1 2 Serbian Electricity Day-ahead Market ..................................................................................... 6 2.1 Trading.............................................................................................................................. 6 2.1.1 Tradable Products ..................................................................................................... 6 2.1.2 Market Auction Session............................................................................................. 6 2.2 Rollback Procedure........................................................................................................... 6 2.2.1 Auction Trading Rollback Procedure ......................................................................... 7 2.3 Trading Calendar .............................................................................................................. 7 3 Serbian Electricity Clearing ...................................................................................................... 8 3.1 Clearing Records ............................................................................................................... 8 3.1.1 Elements of the Invoice ............................................................................................. 9 3.1.2 Offset Report ........................................................................................................... 11 3.1.3 Physical Settlement Report ..................................................................................... 11 3.1.4 Forwarding the Clearing Records ............................................................................ 12 3.1.5 Reporting of Errors .................................................................................................. 12 3.2 Settlement ...................................................................................................................... 12 3.2.1 Settlement of Clearing Transactions ....................................................................... 12 3.2.2 Physical Settlement ................................................................................................. 13 3.3 Financial Guarantees ...................................................................................................... 13 3.3.1 Determination of the Amount of Initial Financial Guarantees................................ 14 3.3.2 Trade Limit............................................................................................................... 14 3.3.3 Deposit Sub-account and Interest ........................................................................... 14 3.4 Default ............................................................................................................................ 15 3.4.1 Procedures for Regulating Cases of Default ............................................................ 15 3.4.2 Costs ........................................................................................................................ 15



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BSP Market Definition Serbia v1.8